After teasing with a contest, Xiaomi has formally announced the new Redmi 2 smartphone in India. The Redmi 2 features two 4G SIMs supporting dual-SIM configuration. For India, it supports both 4G LTE network with Band 3 and Band 40 on both the SIM slots. The 8 GB Redmi 2 model is priced at INR 6,999 ($112) while the limited edition 16 GB model with 2 GB RAM is expected to be released later. Registrations for the Redmi 2 will open today on Flipkart and sale will commence on March 24. Featuring a 4.7-inch HD display protected by AGC Dragontrail Glass, Xiaomi has powered the Redmi 2 with a 64-bit quad-core Qualcomm Snapdragon 410 mobile chipset with Adreno 306 GPU. The smartphone will be offered in 8 GB storage option with 1 GB RAM and 16 GB storage option with 2 GB RAM. It ships with MIUI v6 based on Android 4.4.4 KitKat. Red 2 offers a 8MP camera with LED flash at the rear with capability to record full HD video and a 2MP camera in the front with HD quality. Other features include Wi-Fi Direct, Bluetooth 4.0 LE, USB Host, USB OTG, FM Radio, a 2200 mAh battery. It also features MEMs microphones for better voice calling quality. Xiaomi Redmi 2 will compete directly with the freshly announced Motorola Moto E (2015) 3G Dual-SIM at the same price.